GE HealthCare Technologies (NASDAQ:GEHC) Now Covered by Stifel Nicolaus

Stifel Nicolaus began coverage on shares of GE HealthCare Technologies (NASDAQ:GEHC) in a report released on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating and a $100.00 price target on the stock.

GEHC has been the topic of several other reports. Mizuho reduced their target price on GE HealthCare Technologies from $110.00 to $105.00 and set a buy rating on the stock in a report on Wednesday, May 1st. Bank of America reduced their target price on GE HealthCare Technologies from $94.00 to $86.00 and set a neutral rating on the stock in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group assumed coverage on GE HealthCare Technologies in a report on Thursday, May 30th. They issued a neutral rating and a $87.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $94.58.

GE HealthCare Technologies Trading Up 1.3 %

Shares of GE HealthCare Technologies stock traded up $1.08 on Tuesday, hitting $83.40. The stock had a trading volume of 1,584,290 shares, compared to its average volume of 3,113,350. The stock has a 50 day moving average of $79.20 and a 200 day moving average of $82.65. GE HealthCare Technologies has a twelve month low of $62.35 and a twelve month high of $94.50. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.06. The firm has a market capitalization of $38.07 billion, a P/E ratio of 24.39, a PEG ratio of 3.00 and a beta of 1.17.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.88 billion. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The firm’s revenue was up .5% compared to the same quarter last year. Sell-side analysts expect that GE HealthCare Technologies will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.12 annualized dividend and a yield of 0.14%. GE HealthCare Technologies’s payout ratio is currently 3.51%.

Insiders Place Their Bets

In other news, CEO Thomas J. Westrick sold 2,750 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the transaction, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total value of $222,145.00. Following the completion of the transaction, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Taha Kass-Hout sold 3,300 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total transaction of $259,710.00. Following the completion of the sale, the chief technology officer now owns 67,300 shares in the company, valued at $5,296,510. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,232 shares of company stock valued at $7,591,282. Company insiders own 0.27% of the company’s stock.

Institutional Trading of GE HealthCare Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bradley Foster & Sargent Inc. CT lifted its stake in GE HealthCare Technologies by 89.6% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 392,588 shares of the company’s stock worth $30,590,000 after purchasing an additional 185,552 shares in the last quarter. Denali Advisors LLC raised its position in shares of GE HealthCare Technologies by 6.0% during the 2nd quarter. Denali Advisors LLC now owns 5,300 shares of the company’s stock valued at $413,000 after buying an additional 300 shares in the last quarter. Rathbones Group PLC raised its position in shares of GE HealthCare Technologies by 22.6% during the 2nd quarter. Rathbones Group PLC now owns 122,690 shares of the company’s stock valued at $9,560,000 after buying an additional 22,655 shares in the last quarter. Retirement Planning Co of New England Inc. purchased a new stake in shares of GE HealthCare Technologies during the 2nd quarter valued at $250,000. Finally, Mystic Asset Management Inc. raised its position in shares of GE HealthCare Technologies by 3.0% during the 2nd quarter. Mystic Asset Management Inc. now owns 6,324 shares of the company’s stock valued at $493,000 after buying an additional 184 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.